Can foreigners really own property in Mexico?

es! Today, Mexican laws give foreigners the ability to own real estate in Mexico. There is, however, a Restricted Zone that extends 50 km inland from the coastline. Outside the Restricted Zone, a foreigner may acquire land and be direct owners of the property with all the rights of a Mexican national in compliance with Mexican Law. Inside the Restricted Zone, there are two alternatives for foreigners who wish to buy real estate. Since 1973, foreigners have been able to purchase coastal property through a Mexican bank trust, known as a Fideicomiso.

Can I get financing for my real estate purchase in Mexico?

Unfortunately, at this time, there are no financing or mortgage options for foreign buyers in Quintana Roo. This can change at any time and updates will be posted.

What about the availability of title insurance?

Beginning in 1996, Stewart Title Mexico began underwriting title insurance for Mexican properties at an approximate cost of 1% of the insured amount. Other types of insurance, including property, liability, damage, and earthquake, are all readily available in Mexico, at low cost, and policies can be written to pay claims in U.S. dollars.

What can I expect to pay in property taxes?

Property taxes have historically been low in Mexico because they have never been considered a source of governmental revenue. Known as Predial, the tax is calculated as a percentage (currently .25% of the assessed value), determined at the time of sale. Generally speaking, you can expect to pay $100usd per $100,000usd of assessed value yearly.

Who will manage my property when I am not using it?

Choosing the right Property Management company can mean the difference between an excellent appreciating investment and a huge liability. If you are a property owner in search of Property Management, we are happy to be able to refer you to the best, most professional Property Management companies and will gladly arrange a meeting with their teams. The right management company for you will take the time to a construct a cohesive plan that will best serve your particular needs and help you to realize your property's maximum potential and protect your investment.

Why should I consider buying property in Mexico?

The coastal real estate market in Mexico is booming. Mexico's economy, the 9th largest in the world, values and encourages foreign investment dollars and especially tourism; Mexico is a top world-destination for both vacation and retirement among US and Canadian

Playa Del Carmen and Tulum Mexico Real Estate | Ocean Drop Loft | Condo for sale in Playa Del Carmen

Ocean Drop Loft

Centro (Playa del Carmen, Quintana Roo, MX - 77710)…

2Beds 1Baths $296,125USD

$296,125 USD
$5,031,164 MXP
Estimate only. Updated Daily.

Marieke Brown

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property Size: 81.84 sq. mt.
Property ID: 521334741
Beds: 2
Baths: 1

ªªPLEASE NOTE THAT THE PRICE OF THIS PROPERTY IS AN ESTIMATE, IT MAY VARY DEPENDING ON THE EXCHANGE RATE OF THE DAY. FOR A MORE ACCURATE AMOUNT PLEASE CONTACT ONE OF OUR AGENTS.ªª

New condos for sale near the beach and 5th Avenue

Ocean Drop is an exciting new condominium project with 28 units in the center of Playa del Carmen. The complex is just a 10-minute walk from world-famous 5th Avenue and another minute to the beach. This is one of the best locations in the city and attracts a steady stream of vacation renters. Your guests will delight in the ease and convenience of this prime downtown location, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come.

These new lofts and 1- and 2-bedroom apartments are perfect for vacation rentals or as your own home in paradise. They have a fully equipped kitchen with wood cabinets, a spacious living area, a laundry room and a private balcony. These condos have ceramic tile floors and top-quality finishes that are durable and easy to maintain. They come equipped with all the practical amenities that you would expect, including ceiling fans, air conditioning, LED lighting and an Echo Dot smart home system. They are being offered for sale semi-furnished with an entertainment center, a coffee table, a sofa bed, a 55-inch smart TV, a dining table, a mirror and a queen-size bed with built-in storage drawers.

You and your guests will love the incredible rooftop with a pool, a sundeck and a bar and lounge area with ocean views. At night, you can take in all the stars or even the twinkling lights from Cozumel. The complex is safe and secure with gated entry and 24-hour security. It also features a fitness center, an outdoor grill, laundry facilities, a reception desk in the lobby and underground parking.

This new development is close to public transportation stops, supermarkets, restaurants, shopping malls, laundromats, pharmacies and a multi-sport complex with a running track, basketball courts and more. This area offers reliable, high-speed internet access, so you can easily work from home.

These condos are perfect for people who want an affordable apartment or a profitable vacation rental close to the beach. Delivery is scheduled for 2023. Contact one of our friendly and knowledgeable agents today for more information.